BMC election: BJP fields wealthiest contestant in Mumbai's Ghatkopar

Parag Shah, who has declared assets worth a whopping Rs 690 crore has emerged as the richest candidate contesting the BMC elections ever.

Published: 09th February 2017 08:42 PM  |   Last Updated: 09th February 2017 10:41 PM   |  A+A-

File Image of BJP supporters (for representational purposes).| PTI

By Express News Service

MUMBAI: BJP contestant from Gujarati-dominated eastern suburb of Ghatkopar, Parag Shah, who has declared assets worth Rs 690 crore has emerged as the richest candidate ever contesting the Brihanmumbai Municipal Corporation (BMC) elections.
 
Shah (47), a first time contestant, is a realtor who owns “Man Constructions” and “Man Developers.” He has projects in Gujarat and Chennai and has declared movable assets worth Rs 670 crore in his own and wife Mansi's names.
 
Shah has also declared immovable assets worth Rs 20 crore, including flats in Mumbai and Thane, and agricultural and non-agricultural land in Maharashtra and Gujarat. Movable assets comprise cash in bank accounts, deposits, shares and bonds, vehicles owned and loans, if any. Shah and his wife have shares and bonds worth Rs 507 crore.
 
Interestingly, his declaration states he has not taken any loan and hence does not owe anything to anyone.
 
Shah, who is believed to be close to the state housing minister Prakash Mehta, is pitted against Congress’s Pravin Chheda—opposition leader in the BMC.
 
It has been alleged that Shah has business ties with the controversial Shahid Balwa, who is facing charges in the 2G spectrum case. However, he has refuted the charges saying he has no links to the scam despite Balwa being his good friend.
 
“I will work on the lines of the agenda of transparency that has been set by party higher-ups. I want to fight against corruption,” he said.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp